So I've noticed my 9360 v7.0 is NFC capable and so I've read up a little on NFC.

I presume there will need to be specific app's installed for it to have any useful function? For example, if my bank were to allow NFC payments, my bank would have to develop the app to do so (and of course retailers would have to have NFC capable terminals).

Is this correct?
Do any such NFC app's exist now - apart from those being trialled in Canada - or is this all very new tech.?